Hut 8’s (HUT) Buy Rating Reiterated at Benchmark

Benchmark reiterated their buy rating on shares of Hut 8 (NASDAQ:HUTFree Report) in a report issued on Thursday, Benzinga reports. They currently have a $12.00 price target on the stock.

HUT has been the topic of several other research reports. HC Wainwright boosted their price objective on Hut 8 from $7.00 to $9.00 and gave the company a sell rating in a research report on Thursday, March 28th. Needham & Company LLC increased their price objective on shares of Hut 8 from $12.00 to $13.00 and gave the stock a buy rating in a research report on Thursday. Craig Hallum raised shares of Hut 8 from a hold rating to a buy rating and set a $12.00 price objective on the stock in a research report on Thursday. Finally, Canaccord Genuity Group lowered their target price on Hut 8 from $17.50 to $14.00 and set a buy rating for the company in a report on Friday, April 5th. One research analyst has rated the stock with a sell rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of Moderate Buy and a consensus price target of $12.25.

Get Our Latest Stock Analysis on Hut 8

Hut 8 Trading Up 2.7 %

Shares of Hut 8 stock opened at $9.16 on Thursday. Hut 8 has a 12 month low of $6.18 and a 12 month high of $22.75. The company has a quick ratio of 4.61, a current ratio of 4.61 and a debt-to-equity ratio of 0.04. The stock’s fifty day simple moving average is $8.58 and its 200 day simple moving average is $8.11.

Insiders Place Their Bets

In other Hut 8 news, CFO Shenif Visram sold 17,905 shares of the firm’s stock in a transaction that occurred on Thursday, May 9th. The stock was sold at an average price of $8.15, for a total value of $145,925.75. Following the completion of the transaction, the chief financial officer now directly owns 30,865 shares in the company, valued at $251,549.75. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Private Advisor Group LLC increased its position in Hut 8 by 54.7% during the third quarter. Private Advisor Group LLC now owns 18,095 shares of the company’s stock worth $35,000 after buying an additional 6,400 shares during the last quarter. Global Retirement Partners LLC increased its holdings in shares of Hut 8 by 280.1% during the 1st quarter. Global Retirement Partners LLC now owns 5,428 shares of the company’s stock worth $60,000 after acquiring an additional 4,000 shares during the last quarter. Headlands Technologies LLC bought a new stake in Hut 8 in the 3rd quarter valued at $73,000. Triton Wealth Management PLLC lifted its holdings in Hut 8 by 24.9% during the 1st quarter. Triton Wealth Management PLLC now owns 12,490 shares of the company’s stock valued at $138,000 after purchasing an additional 2,490 shares during the last quarter. Finally, Mackenzie Financial Corp boosted its position in Hut 8 by 7.3% during the third quarter. Mackenzie Financial Corp now owns 91,752 shares of the company’s stock worth $168,000 after purchasing an additional 6,225 shares during the period. Institutional investors own 31.75% of the company’s stock.

Hut 8 Company Profile

(Get Free Report)

Hut 8 Corp., together with its subsidiaries, acquires, builds, manages, and operates data centers for digital assets mining, computing, and artificial intelligence in the United States. It operates in four segments: Digital Assets Mining, Managed Services, High Performance Computing Colocation and Cloud, and Other.

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